September 2023: Confidence Increases in Retail and Construction, Declines in Services

September Confidence Indices from the Turkish Statistical Institute

The Turkish Statistical Institute (TurkStat) announced the services, retail trade and construction confidence indices for the period September 2023. According to these data, there are differences in confidence among sectors.

Positive Developments in Retail and Construction

Retail trade sector managed to increase its confidence index to 109.2 in September with an increase of 0.4 percent. Similarly, the confidence index in the construction sector increased by 3.6 percent to 88.3. These two sectors show an optimistic outlook despite the fluctuations in the markets.

Decline in the Services Sector

On the other hand, the confidence index in the services sector decreased by 0.1 percent in September to 111. A index greater than 100 means that the sector's current and future expectations are positive, while a index less than 100 indicates a pessimistic outlook.

General Assessment

As we approach the end of the year, the optimism in the retail and construction sectors signals developments in different areas of the Turkish economy. For the services sector, however, a more carefully monitored process begins.